AT&T Takeover Of Time Warner Hits Snag With DOJ

AT&T’s acquisition of Time Warner has hit a serious snag. Negotiations between the companies and the Department of Justice have turned so contentious that now both sides are arguing publicly over what the dispute is even about.

According to three sources with knowledge of the matter, the Department of Justice’s antitrust chief met with AT&T on Monday and offered a choice: If you want us to approve your purchase of Time Warner, either sell off CNN’s parent unit, Turner, or sell DirecTV. Otherwise, we’ll see you in court.

Shortly after the DOJ put out that message, AT&T CEO Randall Stephenson sent out a statement saying that CNNwas never for sale. Read more at CNN.